Pinnacle Announces the Sale of a 49-Unit Apartment Building in Denver
Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 1969, 1975 and 1995 S Decatur Street located in Denver, Colorado. This multifamily property has 49 units and was built in 1981. The building is located on S Decatur Street, just east of Federal Blvd. The property sold on August 15, 2018 for $6,300,000; $128,571/unit and $163/square foot. Joe Hornstein and Scott Fetter of the Hornstein Fetter Apartment Group represented the buyer in the transaction.
“We discovered this property off-market and knew it was a good fit for an investor with experience repositioning buildings” Hornstein said. “The current financials didn’t look very good and it was difficult to finance, which would deter many investors, but the buyers realized there was a significant opportunity to add value and were able to use 1031 funds to complete the purchase.”